Gross Leasable Area (GLA)
Gross Leasable Area (GLA) in real estate refers to the total floor area available for tenant occupancy and use in a commercial property. This includes the space within the tenant’s premises, such as offices, retail stores, or warehouses, but typically excludes common areas like lobbies, corridors, stairwells, and restrooms. GLA is a critical metric used by property owners, managers, and investors to determine rental income potential and assess the efficiency of the property’s layout. It is also a fundamental factor in calculating rental rates and lease agreements, as it directly impacts the tenant’s rentable space and the owner’s revenue from the property.